Income Taxes
- FrankN
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- Joker
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- FrankN
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Replied by FrankN on topic Taxes
Pinky wrote: I agree with you however, he also promised to lower self-employment taxes to make it easier for self-employed folks to stay above water. I am one of those folks and I really need a break. Does he EVER do anything he says except blabbing on Twitter?
Agree, Trump supporters would argue it is still in process. We will see.....
- Pinky
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- FrugalFran
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- Goldbug
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So in other words, the people who like it complicated are the large companies with large finance departments, and the rest of us get stuck trying to do the math single-handed, or throw our hands up and pass it on to an accountant!FrankN wrote: Its not just the accounting lobby as they dont have nearly as much sway as others. Its all the industries and companies that get specific deductions and tax credits (think about mortgage industry, energy, (coal, clean energy, etc.) All of those industries that get benefits don't want those credit or deductions to be eliminated.
- FrankN
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- Goldbug
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Ah, but would the accountants lobby say it was fair to them? These laws must keep many of them employed! I just get tired of staring at the paperwork and keeping folders full of recipts for everything around ready for the end of year. I'm sure it wasn't like this in my grandparents' time.FrankN wrote: I 100% agree. The only solution to me and for it to be fair to EVERYONE is to drastically simply it.
- FrankN
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Goldbug wrote:
I just wish they'd simplify it. I know I overpaid because I never managed to work out all the deducations, and I ended up giving up and getting an accountant to do mine, which just makes it cost even more.FrugalFran wrote: The IRS is such a thorn in everyone's side. I'm very curious to see if anything is going to change after the election this year. I sure hope so because the amount of money my husband and I pay in taxes is ridiculous.
I 100% agree. The only solution to me and for it to be fair to EVERYONE is to drastically simply it.
- Goldbug
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I just wish they'd simplify it. I know I overpaid because I never managed to work out all the deducations, and I ended up giving up and getting an accountant to do mine, which just makes it cost even more.FrugalFran wrote: The IRS is such a thorn in everyone's side. I'm very curious to see if anything is going to change after the election this year. I sure hope so because the amount of money my husband and I pay in taxes is ridiculous.
- FrankN
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- FrugalFran
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- patse
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Holy smokes! Think of all the penalties and interest this friend will end up paying. I think you can even be arrested for tax evasion! The IRS will work out a payment plan.Breakinger wrote: I definitely wouldn't put it off until next year because you are only going to end up owing more. I know someone who hasn't filed his income taxes in almost three years because he owes every year. I'm waiting for it to catch up with him, which it eventually will.
- Breakinger
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- Egghead
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